NORTH SHORE REAL ESTATE UPDATE March 2017

In West Vancouver, there were 59 sales in the month of March. The sales to new listings ratio was 38% which represents a balanced market. For March 2017 the sales to total active listings percentage was 15%, a decrease from 45% in March 2016. Sales for March 2017 were down by 87 units compared to March 2016.

The West Vancouver listing inventory has increased by 22 homes compared to February 2017 and increased by 61 homes compared to March 2016. The average price year-to-date (YTD) is down 6% compared to March 2016 and is down by $46,837 compared to February 2017. The West Vancouver median price decreased by $80,000 from February 2017 to March 2017 ($3,205,000 to $3,125,000).

In North Vancouver, there were 98 sales in the month of March. The sales to new listings ratio was 63% which represents a seller’s market. For March 2017 the sales to total active listings percentage was 41%, a decrease from 105% in March 2016. Sales for March 2017 were down by 82 units compared to March 2016.

The North Vancouver listing inventory has increased by 15 homes compared to February 2017 and increased by 68 homes compared to March 2016. The average price year-to-date (YTD) is up 6% compared to March 2016 and is up by $67,535 compared to February 2017. The North Vancouver median price increased by $75,000 from February 2017 to March 2017 ($1,625,000 to $1,700,000).